Abu Dhabi – Mubasher: Aldar Properties and Dubai South will team up to develop Grade A logistics facilities at Dubai South’s Logistics District, according to a press release.
The Grade A logistics facility, spanning nearly 23,000 square metres of gross floor area, is located near Al Maktoum International Airport and is scheduled for completion by the end of 2024.
The facility provides bonded and non-bonded access as well as securing a usable eaves height of 16 metres and is temperature controlled to 24 degrees Celsius.
Mohsen Ahmad, CEO of the Logistics District, Dubai South, said: “We are pleased to witness the groundbreaking of the new facility, which will be of added value to the logistics sector, and we are committed to reinforcing its growth and cementing the emirate’s position as a global logistics hub.”
“We will spare no effort to support Aldar’s venture into the sector and look forward to announcing the commencement of construction work at further logistics facilities,” Ahmed indicated.
In the 12-month period that ended on 31 December 2023, Aldar logged net profits attributable to the owners valued at AED 3.92 billion, compared to AED 2.94 billion in 2022.
